First of all, WOW just wow. OP_Cat is just Concatenation. What's concatenation you ask? Why its where I have 2 + 2 and the result is 22. Whereas if you were to add 2 + 2 the result would be 4, concatenation, is just taking something over there, and squshing it next to something over here.
So if I had this sentence
OP_CAT
and combined it with this sentence
We would get this sentence:
So if I had this sentenceand combined it with this sentence
And if I put a space at the end of the first sentence or the start of the second sentence, it would look normal! lol.
So this is the most simple BIP to explain to anyone. The complicated part would be all the math and things you have to do to create covenants with it using the existing Schnorr scheme that we already soft forked in. So far from my reading, you can do all the things I like about covenants with it. Non-interactive channels, vaults, even eltoo
You should definitely check out this article too: Covenants in Elements Alpha
Recursion
So OP_CTV FUD was over aantonop speculating that it might be recursive fully admitting that he hadn't read the code yet, even though the real reason was over activation dynamics which are unrelated to the quality of the code. Oh also by the way
CTV is NOT recursive
Okay that doesn't deserve its own heading, but we gotta make that nice and big. OP_CAT, from what I'm getting from these articles, would allow for recursive covenants, whereas CTV would not.
Next thing I want to learn, is why Adam Back prefers OPTX and even TXHASH over CTV or any of the other covenant proposals so far.
Its the first time I've seen anyone suggest those as options for covenants.